Having attended numerous auctions over the years, mostly as a spectator then, in more recent times, as a buyer, I’ve seen all types of hand-raising, bidding and selling in all kinds of weather.
I’ve seen properties sell for way more than I thought they would. I’ve seen properties go for much less than I’d predicted.
I ended up getting a fair hunch for when I wanted to buy, based on the trends I’d noticed.
Now, I’m so far removed from being an expert on this subject. But, as a buyer I can tell you my hunch paid off. And I’ve also found that those way more qualified than me agree with my theory.
Before we dive much deeper on selling, the aforementioned experts – Agent Select – say it’s important to note that the property market is continually changing and Australia has many different markets within each state and suburb, right down to different property types.
As a seller, you want to sell in a seller’s market. Seems obvious, but when is that?
It’s when there are a high level of potential buyers and fewer properties on the market.
Most people assume spring is the best time to sell as there are traditionally more listings in the spring months. The increased supply and choice are great for attracting buyers, but properties listed at this time of year rarely sell for more than other seasons.
Some studies show that the best time to sell your property may be autumn, with most property sales occurring during the month of March, followed by May.
Coredata analysis of the decade from January 2000-2010 shows that March was the busiest month for both houses and units across Australia.
This is backed by Realestate.com.au listing data, which shows March as one of their highest months for website traffic.
According to Agent Select, transaction volume does not change greatly throughout the year, remaining relatively steady before the Christmas slowdown over December and January.
“While most people think that the best time to sell their house is in spring or autumn because that is when buyers are actively looking, this is also the time that your property will come up against the most competition,” said an Agent Select spokesperson.
“Selling your home before a peak period could mean you put your property on the market in a time of high demand.
“You could essentially jump ahead of other sellers and attract a keen buyer who has been faced with stock scarcity in the marketplace or someone who has missed out on buying in one of the peak periods.
“Selling in a quieter market may also give you the opportunity to then buy in a busier market with more properties to choose from.”
While there may not necessarily be a perfect time to sell your home, the overall market conditions and the agent you choose to sell your home will have the biggest impact on the result of your property’s sales campaign.
It is important to think carefully about who you choose to sell your home and also consider what could be motivating or deterring buyers from your property in the current market.
Your best bet at winning the property selling game is to find a great real estate agent to identify these things for you as well as what particular dynamic is going on in your local market.
Agent Select is a YourLifeChoices preferred partner.
Have you ever sold a property? When did you sell? With which parts of the process were you satisfied and which could have been done better? Why not share your tips with our members in the comments section below?
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